newsYale Resources begins drilling at Leicester
Yale Resources Ltd (TSX-V:YLL)
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Last Close 11/15/2005 $0.24
Wednesday November 16 2005 - News Release
Mr. Ian Foreman reports
DRILLING COMMENCES AT THE LEICESTER COPPER PROPERTY
Yale Resources Ltd. has begun drilling at the Leicester copper property located in Namibia. Helio Resource Corp., the optionor and current operator of the project, is conducting a 2,000-metre phase 1 drill program.
The reverse circulation drill program will test outcropping copper mineralization at the Quest, G, E and A targets and will also test the strong seven-kilometre-long induced polarization geophysical anomaly located south of the main fault zone as well as a new induced polarization geophysical target located between the Quest and G target areas.
The drill targets are spread out along an 11-kilometre strike length of the Rehderstal fault. Trench sampling highlights from these main targets are summarized below:
13.5 metres grading 1 per cent Cu at anomaly A;
10.6 metres grading 1.3 per cent Cu at anomaly E;
10.2 metres grading 1.54 per cent Cu at anomaly G; and
14 metres grading 0.94 per cent Cu at Quest.
The Leicester property has excellent infrastructure as there is a paved highway as well as the national power grid passing through the property. Approximately 100 kilometres to the east is the rail head that leads to Tsumeb, a historic copper district in Namibia and home to the country's only copper smelter. In addition to this excellent infrastructure, it is important to note that the continued strong demand for copper has pushed its price to record highs.
Chris MacKenzie, MSc, CGeol, Helio's executive chairman and a qualified person as designated by National Instrument 43-101, is responsible for supervising the drill program and the associated quality control programs